THIS MORNINGS QUICK LOOK

1.  TOUR DE MTG FINANCE – MBS Has Lost It’s Mind
2.  PRODUCT HIGHLIGHT –  Scores Down To 600
3.  MARKETING – What Is Your Authority?

Tour De Mortgage Finance Learn Something New Everyday About Your Industry

MBS UPDATE – BOND MARKET HAS LOST IT’S MIND

Folks, if you are not monitoring your pipeline and Mortgage Backed Securities you are as crazy as the bond market itself.

As a reminder, I send out a quick update at 9:30 Central when rates comes out letting you know where the market is and what to expect. No charge, just giving you something to tell your borrowers. Whether you are a client or not it is yours free of charge.

Text “I’m IN” to 251-428-1564 – That’s IT!
Last week with all the drama those that are “IN” were informed.

I received this comment from an LO on Friday.
“Jack, thank you so much for sending out your daily updates. I may be cheating but I send out what you say to the rest of my team and it seems I am the only person that knows what is happening in the market. Thanks for making me look good”.
Your Welcome! : ) 

Check out the graph below.
That is the last 20 days of what mortgage backed securities have done. 

The big red drop means it went down that much Wednesday which was the largest hit since March of 2020. 

From the low to the high in the last 20 days is a margin of 142 BPS. 

That means if your comp plan is 200 bps rates fluctuated as much as 142 BPS in the last 20 days. 

So, what’s next? Nobody knows. It is quite simple, the market is on an emotional roller coaster and it can go up or down based on multiple items.

Some of the top hits are:
Inflation, FED Speaking, Supply Chains, Artificial Inflation due to supply chains, short term FED rate increase possibilities, China and other countries inverted yield curve (This means short term bonds are bringing better or equal returns as long term. AKA Recessions), FED tapering of buying bonds causing supply to increase and demand to decrease causing increase in 10 Yr Bond which in turn causes worsening rates. 

Reminder, as the economy gets better rates get worse. The worse the economy the better rates are. The problem is we are in a unique situation of nobody knows what the economy is so they flip flop all over the place.

Pretty awesome actually, we can all say we were a part of it.

Text “I/M IN” to 251-428-1564 and be in the know.

Got questions??? Well, duh. Click CHAT and I am here. 
Client or Not – Eventually you will be a client. Just sayin…..

Product & Guideline Highlight Knowledge That Gives You An Edge Over Your Competition

SCORES DROPPING FOR FHA AND VA

Effective today we will allow scores down to
600
FHA AND VA
MANUAL UNDERWRITES INCLUDED

VA loans above conforming loan limit require 640
Fyi, we go up to
4 MILLION @ 100% LTV
on VA Jumbo

Marketing Ideas And Opportunites Little Things That Can Make A Big Impact

WHAT ARE YOU CONSIDERED THE AUTHORITY ON?

Everyone should be known for something. 

If you are not marketing then you are not selling.
What do you market yourself as in the industry?

Some of you are construction gurus – Alex……
Some of you are govt gurus – Neely……
Some of you just get IT done – Brian ……
Some of you are crap score gurus – No Comment : ) 
Some of you are elitists score gurus – No Comment

I am your guideline guru, marketing guru and all things industry guru. 
I have built that over the last 13 years and I love it!

Most people do not realize it but the more you market a specialization as in the more you narrow your focus the more you become known for that in the industry. 

Who makes more? The Family Doctor or the Hand Specialist?
The hand specialist by a wide margin because everyone with a hand issue goes to them including other doctors. Family Doctor you have 100’s of choices. Same degree – same education – different marketing.

Figure out what you want to be known for and then do something about it.
Being known for everything makes you the same as everyone.

You can do it all but market what you are the best at.

Turn Times As Of This Morning Lookin Good!